In Micula and others (Respondents/Cross-Appellants) v Romania (Appellant/Cross-Respondent) [2020] UKSC 5 the UK Supreme Court (the “SC”) found that the duty of sincere cooperation under EU law does not preclude enforcement of an ICSID Convention (the “Convention”) award against Romania (the “Award”). In what is the enforcement stage of the long-running and well-known saga of … Read more
In MODSAF v IMS [2020] EWCA Civ 145, the Court of Appeal confirmed that an award debtor was not liable to pay interest on an arbitration award where it was prohibited to satisfy this award by international sanctions. Background On 24 June 2008, the Ministry of Defence and Support for Armed Forces of the Islamic … Read more
Herbert Smith Freehills has helped secure an important victory for the Kingdom of Spain in a long-running investor-state arbitration concerning regulatory changes made by Spain in 2010 to the Feed-in Tariff regulation governing the photovoltaic (“PV”) sector in Spain. Read more
An ad hoc committee (the “Resubmission Committee“) has recently dismissed the claimants’ application to annul a resubmission award issued in September 2016 (and subsequently rectified) in Victor Pey Casado and President Allende Foundation v Republic of Chile (ICSID Case No. ARB/98/2), the longest dispute in the history of the International Centre for Settlement of Investment … Read more
The English High Court’s decision in State A v Party B [2019] EWHC 799 (Comm), handed down in January 2019 but only recently published, concerned the court’s dismissal of an application to extend the time for bringing a jurisdictional challenge under section 67 of the Arbitration Act 1996 in circumstances where the challenge was 959 … Read more
Herbert Smith Freehills’ successful representation of the Republic of Costa Rica in a high-profile investment arbitration has been named “Dispute of the Year” by Latin Lawyer at its 13th annual Deal of the Year Awards. Read more
The English Court (the “Court“) has dismissed an application by Ukraine to set aside a court order permitting Russian investor, PAO Tatneft, to enforce an arbitral award against Ukraine. Ukraine argued that it was immune from the Court’s jurisdiction by virtue of the State Immunity Act 1978. The Court found that Ukraine had not waived … Read more
In the decision of Reliance Industries Limited & Ors v The Union of India [2018] EWHC 822 (Comm) the English Commercial Court (the Court) considered a number of challenges to an arbitration award brought under sections 67, 68 and 69 of the Arbitration Act 1996 (the 1996 Act). In relation to certain of the challenges … Read more
On 2 February 2018, the International Court of Justice (the “ICJ” or the “Court”) delivered judgment in the case concerning Certain Activities Carried Out by Nicaragua in the Border Area (Costa Rica v Nicaragua), determining the amount of compensation due to Costa Rica for environmental harm caused by Nicaragua’s activities in the northern part of … Read more
